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A report from J.P. Morgan reiterates its Neutral rating and $14 price target on Seagate Technology
STX.
The report states, “In a steady state world, i.e., no Thailand flooding, Seagate's performance would have hurt the stock. Instead, the company's Dec-Q outlook points to less deterioration in the model relative to Western Digital. As a result, Seagate shares could exhibit downside support in the near term”.
STX closed yesterday at $12.06.
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